Talbots year-to-date web sales rise 33%
Web sales represent a bright spot in an otherwise murky financial picture at The Talbots Inc.
For the first nine months of the year, web sales totaled $169.6 million, an increase of 33% from e-commerce sales of $127.4 million for January through September in 2006. In comparison total sales only grew year over year by 6.9%, while comparable store sales, which include both Talbots and J. Jill, decreased by 5.4%. Talbots acquired J. Jill in 2006.
For the first nine months of the year, Talbots, No. 62 in the Internet Retailer Top 500 Guide, reported a net loss of $17.4 million on sales of $1.7 billion vs. net income of $31.6 million on revenue of $1.6 billion in the prior year. In Q3, Talbots posted a net loss of $9.3 million on sales of $556 million, compared with net income of $8 million on revenue of $568.6 million in Q3 of 2006.
The company doesn’t break out quarterly e-commerce sales. Talbots cites a difficult retail environment for its lackluster financial performance, but sees e-commerce as a bright spot. “Both brands continue to experience solid growth in Internet sales, with Talbots brand at 53% and J. Jill at 56% of their respective total direct businesses on a year-to-date basis,” CEO Trudy Sullivan told analysts on the company’s recent earnings call. “On a year-to-date basis, total consolidated Internet sales are 54% of the combined company’s direct sales, which is up from 47% for the combined company in the same period last year.”
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